{"id":1004216163,"date":"2018-04-03T00:07:45","date_gmt":"2018-04-03T08:07:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004216163"},"modified":"2022-12-09T01:53:46","modified_gmt":"2022-12-09T09:53:46","slug":"bbx-capital-stiles-trade-fl-retail-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bbx-capital-stiles-trade-fl-retail-property\/","title":{"rendered":"BBX Capital, Stiles Trade FL Retail Property"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004216169\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004216169\" data-attachment-id=\"1004216169\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bbx-capital-stiles-trade-fl-retail-property\/3901-design-center-drive-in-palm-beach-gardens-fla\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS R&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1480489121&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;6&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"3901 Design Center Drive in Palm Beach Gardens, Fla.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;3901 Design Center Drive in Palm Beach Gardens, Fla.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg?w=800\" class=\"wp-image-1004216169 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/3901-Design-Center-Drive-in-Palm-Beach-Gardens-Fla..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004216169\" class=\"wp-caption-text\">3901 Design Center Drive in Palm Beach Gardens, Fla.<\/p><\/div>\n<p>Precise Property has acquired a 43,400-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/palm-beach-area-retail-asset-lands-46m-refi\/\">retail building in Palm Beach Gardens<\/a>, Fla., from a joint venture between BBX Capital Real Estate and Stiles Property Fund for $7.4 million. BBX acquired the asset along with two other mostly vacant structures on the 30 acres at PGA Station in December 2013.<\/p>\n<p>The property is part of the larger PGA Station mixed-use development, which is expected to eventually contain approximately 200,000 square feet of office space, a parking garage and a 111-key hotel, according to <em>The Palm Beach Post<\/em>.<\/p>\n<h2>Development plans moving forward<\/h2>\n<p>Located at 3901 Design Center Drive, the two-story building is positioned between Interstate 95 and Florida Route 811, enabling convenient access throughout the region. Tri-Rail is planning to extend commuter train services to the immediate area with the construction of a station next to the parcels. The asset also sits within two miles of The Gardens Mall, a 1.4 million-square-foot regional shopping mall. La-Z-Boy occupies approximately 12,000 square feet at the property.<\/p>\n<p><em>\u201cConverting this property from primarily furniture retail to office use is another step in the process of activating PGA Station under its new mixed-use development plan. This, along with the new hotel under development, will make PGA Station a true destination in Palm Beach Gardens,\u201d<\/em> Seth Wise, president of BBX, told <em>Commercial Property Executive<\/em>.<\/p>\n<p><em>Image courtesy of BBX Capital Real Estate<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building sold for more than $7 million and is part of PGA Station, a mixed-use development featuring office and shopping space.<\/p>\n","protected":false},"author":861,"featured_media":1004216169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1492,21742,21749],"tags":[39627,36351,39630,38611],"class_list":["post-1004216163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-miami","category-latest","category-retail","tag-bbx-capital-corporation","tag-capital-improvement","tag-seth-wise","tag-stiles-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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